Amylyx Pharmaceuticals, Inc. $AMLX Shares Newly Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 59,322 Amylyx shares worth approximately $1.1 million, while institutional investors collectively owned 95.84% of the company at the end of the quarter.
• Company insiders sold 45,374 shares valued at about $1.26 million during the quarter; one sale was made to cover tax withholding obligations tied to vested equity awards.
• Amylyx shares opened at $29.49, while analysts maintained an overall “Buy” consensus with an average price target of $38.86. The company nevertheless missed its latest quarterly earnings estimate, reporting a loss of $0.39 per share versus the expected $0.36 loss.

Corient Private Wealth LP bought a new position in shares of Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 59,322 shares of the company's stock, valued at approximately $1,065,000. Corient Private Wealth LP owned 0.05% of Amylyx Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMLX. BlackRock Inc. bought a new stake in Amylyx Pharmaceuticals in the 2nd quarter worth approximately $158,534,000. GSA Capital Partners LLP bought a new position in Amylyx Pharmaceuticals during the second quarter valued at approximately $705,000. Elmind Capital LP purchased a new position in shares of Amylyx Pharmaceuticals during the second quarter worth approximately $2,011,520. Dimensional Fund Advisors LP boosted its stake in shares of Amylyx Pharmaceuticals by 17.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 903,192 shares of the company's stock valued at $12,544,000 after purchasing an additional 131,944 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Amylyx Pharmaceuticals in the 2nd quarter valued at $12,949,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amylyx Pharmaceuticals

In other news, insider Gina Mazzariello sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $18.32, for a total value of $274,800.00. Following the completion of the transaction, the insider owned 194,090 shares of the company's stock, valued at approximately $3,555,728.80. This represents a 7.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Camille Bedrosian sold 10,028 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $32.40, for a total value of $324,907.20. Following the completion of the transaction, the insider owned 278,064 shares of the company's stock, valued at approximately $9,009,273.60. The trade was a 3.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 45,374 shares of company stock valued at $1,259,057. Corporate insiders own 10.90% of the company's stock.

Amylyx Pharmaceuticals Stock Down 2.2%

Shares of AMLX stock opened at $29.49 on Friday. The stock has a fifty day moving average of $28.55 and a 200 day moving average of $20.06. Amylyx Pharmaceuticals, Inc. has a 52 week low of $10.83 and a 52 week high of $41.14. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -20.62 and a beta of -0.13.

Amylyx Pharmaceuticals (NASDAQ:AMLX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Equities research analysts anticipate that Amylyx Pharmaceuticals, Inc. will post -1.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HC Wainwright increased their target price on shares of Amylyx Pharmaceuticals from $34.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Guggenheim upped their price target on shares of Amylyx Pharmaceuticals from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Mizuho raised their price objective on Amylyx Pharmaceuticals from $30.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, August 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Amylyx Pharmaceuticals in a research report on Wednesday, August 5th. Finally, Wolfe Research raised Amylyx Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $38.86.

Amylyx Pharmaceuticals Company Profile

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